Change - Announcement of Cessation::Retirement of Group Managing Director - Dr. Kwong Yong Sin

Issuer & Securities

Issuer/ Manager
SILVERLAKE AXIS LTD
Securities
SILVERLAKE AXIS LTD - BMG8226U1071 - 5CP
Stapled Security
No

Announcement Details

Announcement Title
Change - Announcement of Cessation
Date &Time of Broadcast
05-Apr-2019 17:48:09
Status
New
Announcement Sub Title
Retirement of Group Managing Director - Dr. Kwong Yong Sin
Announcement Reference
SG190405OTHRJLE1
Submitted By (Co./ Ind. Name)
Priscilla Tan
Designation
Company Secretary
Description (Please provide a detailed description of the event in the box below)
Retirement of Dr. Kwong Yong Sin ("Dr. Kwong") as Group Managing Director.

Additional Details

Name Of Person
Dr. Kwong Yong Sin
Age
62
Is effective date of cessation known?
Yes
If yes, please provide the date
30/06/2019
Detailed Reason (s) for cessation
Retirement. Dr. Kwong will continue in office as Non-Independent Executive Director of the Company.
Are there any unresolved differences in opinion on material matters between the person and the board of directors, including matters which would have a material impact on the group or its financial reporting?
No
Is there any matter in relation to the cessation that needs to be brought to the attention of the shareholders of the listed issuer?
No
Any other relevant information to be provided to shareholders of the listed issuer?
No
Date of Appointment to current position
01/11/2005
Does the AC have a minimum of 3 members (taking into account this cessation)?
Yes
Number of Independent Directors currently resident in Singapore (taking into account this cessation)
2
Number of cessations of appointments specified in Listing Rule 704 (7) or Catalist Rule 704 (6) over the past 12 months
2
Job Title (e.g. Lead ID, AC Chairman, AC Member etc.)
Group Managing Director
Role and responsibilities
He is responsible for the development and execution of the Group's business strategies, implementation for Board decisions and oversee the Group's financial performance, operations, marketing and investment matters.
Familial relationship with any director and/ or substantial shareholder of the listed issuer or of any of its principal subsidiaries
No.
Shareholding interest in the listed issuer and its subsidiaries?
Yes
Shareholding Details
Silverlake Axis Ltd:
- Direct Interest: 18,972,000 ordinary shares
- Deemed Interest: 1,450,000 ordinary shares (held by Dr. Kwong's spouse, Madam Khoo Beng Gaik @ Nellie)
Past (for the last 5 years)
2011 - 2017
Global InfoTech Co. Ltd.: Non-Executive Director
Present
2005 - to-date
Silverlake Axis Ltd and its subsidiary companies: Group Managing Director

2015 - to-date
Finzsoft Solutions Limited: Non-Executive Director